Airmiles Duo offers low-rate credit card balance transfers

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New customers of Lloyds TSBs Airmiles Duo card have up to six weeks in which to take advantage of a credit card balance transfer offer, the lender advises.

All credit card balance transfers made before the six-week deadline receive a reduced interest rate of 6.9 per cent, compared with the typical 15.9 per cent annual percentage rate listed by Lloyds TSB.

The six-month reduced rate applies only to the transferred balance, which must be paid off in full before any new spending can be cleared, according to Lloyds TSB.

However, any spending which the cardholder does make will still earn Airmiles at the rate of one mile for each £10 spent - double the rate provided by previous Airmiles partner NatWest.

Meanwhile, Lloyds TSB revealed this week that its customers may have access to a wider selection of retail outlets through the creation of the Airmiles Duo scheme.

Through the new programme, both American Express and MasterCard outlets are catered for via a single account with one monthly statement and pin.

Sumit Bose, broadcaster for the Travel Channel, said: "Ive always been a big fan of Airmiles and now the Lloyds TSB Duo credit card offer makes Airmiles even more worthwhile.

"I can collect even faster for great value travel deals."

Figures published by Lloyds TSB show that a total spend of £4,000 would be rewarded with a free flight to Paris.

This compares with estimated spends of £4,100 with NatWests YourPoints product and £6,000 with the Nectar credit card - although the latter figure may be as little as £1,500 if spent in outlets which partner with the Nectar rewards scheme.

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